May 4, 2023 | Growing a Global Business: A Conversation with Alex Goldelman, CFO of UNIQLO US

The Georgetown Retail and Luxury Association (GRLA) had the pleasure of hosting Alex Goldelman, Chief Financial Officer of Uniqlo US and Georgetown alumnus. This unique conversation focused on growing a global business, the insights learned from Uniqlo's expansion, and Goldelman's unconventional path to becoming a CFO.

Uniqlo's vertical integration sets it apart from fast fashion brands, as it manages the entire production chain. Even if all basics inventory doesn't sell, it can carry into the next season since trends for basics move slower, thereby avoiding waste. The expansion beyond Japan also taught Uniqlo that customers worldwide share fundamental preferences, like avoiding too much text in product descriptions. While expanding, Uniqlo made adjustments like size adaptation but maintained core product offerings across regions.

Goldelman's journey to CFO stands out as unconventional, with various roles across HR and other departments before reaching his current position. He shared his belief that a CFO must love problem-solving and using data and financial models to analyze businesses. He also described two types of CFOs, one constantly thinking about capital deployment and the other loving to say no to things.

In this conversation, Goldelman portrayed Uniqlo as a brand unafraid of change and innovation, always ready to adapt to consumer needs and market demands. From this, we learned that as the global retail landscape evolves, Uniqlo will continue to evolve in tandem, meeting consumers in new ways while staying true to its roots of quality, affordability, and sustainability. The Uniqlo story is a powerful testament to the potential for success through innovation, adaptability, and a commitment to core values.